Suki, a Redwood City-based healthcare startup, has raised $70 million in its Series D funding round, bringing its total funding to $165 million. The round was led by London-based investment firm Hedosophia, with participation from Venrock and March Capital. Although Suki did not disclose its current valuation, sources familiar with the deal estimate the company is now valued at approximately $500 million.
Founded in 2017 by former Google and Flipkart executive Punit Soni, Suki develops AI-powered voice assistants designed to alleviate administrative burdens for healthcare providers. Its core products, Suki Assistant and Suki Platform, aim to streamline clinical workflows by integrating with major Electronic Health Record (EHR) systems like Epic, Oracle-owned Cerner, Athena, and MEDITECH. Since the rise of generative AI technologies like OpenAI’s ChatGPT, Suki has seen increased adoption, securing partnerships with over a dozen healthcare systems.
The company plans to use the new funds to accelerate product development, enhancing its AI assistant’s features and building tools to manage multiple AI models. As Suki expands, it faces competition from industry giants like Microsoft-owned Nuance, whose Dragon Medical One software is widely used in speech recognition and clinical documentation, as well as startups like Abridge, which has raised $150 million to develop medical AI tools.
